Progress Partners Advises CPXi (NKA Digital Remedy) on Divestiture of bRealTime
BOSTON, MA and NEW YORK, NY – February 9, 2017 – Progress Partners, a Boston and New York-based M&A advisory firm, is pleased to announce the divestiture of its client’s programmatic marketplace and header bidding technology, bRealTime, to a leading private-equity backed marketing and media tech-enabled agency.
The division bRealTime was launched in 2009 by CPXi, a diversified digital media and tech-enabled platform company founded in 2001 by CEO Mike Seiman, as a pioneering capability in the adtech market. This division enables leading digital publishers to monetize through direct header bidding technology for ‘first-look’ demand. Having been early to market with the capability, bRealTime scaled quickly as publishers began to learn that the approach of direct container tag integration affords high value inventory optimization within the programmatic stack of digital ad monetization. The successful divestiture of bRealTime will enable the company to continue on its growth trajectory servicing digital advertisers and publishers.
At the beginning of this year, CPXi announced their new brand identity Digital Remedy (www.digitalremedy.com), a transformation highlighted by the refinancing of its core business through a new debt facility from Gibraltar Business Capital at the end of 2016 along with several recent acquisitions including several SpinMedia Entertainment entities (January 2017) and digital opinion measurement technology platform, Sweigh, Inc. (April 2016).
Nick MacShane, the senior partner working the deal, commented, “It has become ‘common understanding’ that the digital advertising and adtech industry moves at lightning pace – and this kind of deal making highlights the dexterity and tactfulness required to remain a competitive player in the market. Working with Mike Seiman over the last year has illuminated what’s required to be an exceptional entrepreneur in this sector – the continuous rethinking of what’s assumed to be true, and then moving to stay ahead of it. Mike’s growth mindset is a big reason why he’s been consistently competitive over his twenty-year career in this space.”
About Digital Remedy
Digital Remedy is a digital media solutions company leading the tech enabled marketing space. Our unprecedented access delivers performance based innovation and maximizes your business potential through superior customer service, our diverse strategic solution sets and flawless execution. Digital Remedy enables publishers, advertisers and influencers to access the full potential of their digital assets.
About Progress Partners
Progress Partners is a Boston and New York-based M&A advisory firm working with emerging technology companies within media, marketing, advertising sectors, serving SMB through Enterprise. Progress Partners works with buyers and sellers of high growth companies to complete M&A transactions, raise debt or equity capital, as well as, develop and implement strategic growth plans. The firm's high standards of excellence, deep industry experience, extensive network, and entrepreneurial background give Progress Partners the ability to build and realize superior value for its clients. For more information, please visit: www.progresspartners.com.